You are stocking inventory in a retail store and want to determine the number of suit jackets on a hanger. There are six (6) nav
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Answer:
The markup percent on the painting is 58.3%
Step-by-step explanation:
Here, The Cost price of the painting = $120
The selling price of the painting = $190
Hence, the total profit on the painting = Cost Price - Selling price
or Profit = $190 - $120 = $70
Now, Markup % = (Gross Profit / cost) x 100
⇒Markup % =
Hence, the markup percent on the painting is 58.3%